eBay is the latest company to enter the NFT business, as the online marketplace announced today that it’s launching its first collection of NFTs in partnership with web3 platform One Of.

Figure 1: A Green NFT platform

Figure 1 shows that the company’s new “Genesis” NFT Collection will feature 3D and animated interpretations of the iconic athletes featured on Sports Illustrated covers over the years. eBay says the surge in the collectibles market has led to its first-ever collaboration in the NFT space.

The first NFT collection, which is available starting today, will feature Canadian hockey player Wayne Gretzky. The collection includes 13 limited-edition digital collectibles as green, gold, platinum and diamond-tier NFTs.

The NFTs start at $10 and contain a 3D rendering or animation of Gretzky making a signature move on the ice. eBay plans to drop additional collections featuring more athletes through the year. [1]

Despite the market volatility that rocked the trillion-dollar crypto industry, global conglomerates are actively looking to expand into the non-fungible token (NFT) sector. NFTS has become a heated bed for capital flow Some digital artworks are selling for millions of dollars.

The NFT has maintained its status quo amid a drop in the prices of cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH). It is estimated that approximately $8 billion The value of NFTs was traded in the first quarter of 2022. [2]

"We are excited to partner with eBay, the largest and most trusted e-commerce platform in the world, to introduce NFTs and the power of the blockchain to eBay's community of enthusiasts through a dynamic, user-friendly experience," said Lin Dai, CEO, OneOf.

"You don't have to be a crypto expert to buy, sell, and collect NFTs. OneOf and eBay are bringing transformative Web3 technology to the next 100M non-crypto-native mass consumers."

As a global commerce leader, eBay has connected its 142 million buyers and millions of sellers all over the world, bringing incredible inventory to enthusiasts and fostering new economic opportunities through community building.

Its collaboration with OneOf is driven by the collective goal of maintaining an open marketplace and making high value collectibles more accessible. [3]

References:

1. 1. Source: https://techcrunch.com/2022/05/23/ebay-launches-collection-nfts/
2. 2. https://biz.crast.net/ebay-faucet-nft-frenzy-genesis-collection-to-launch-the-crypto-economy/
3. 3. https://www.prnewswire.com/news-releases/ebay-launches-first-collection-of-nfts-in-partnership-with-green-web3-company-oneof-301551975.html

Cite this article:

Sri Vasagi K (2022), eBay, A Strategic Partnership with Oneoff Launches a Green NFT Platform, Anatechmaz, pp. 297